Riyadh, February 06, 2024, Equatorial Guinea's President, Teodoro Obiang Nguema Mbasogo, welcomed Sultan bin Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development (SFD), along with his accompanying delegation, on Tuesday, signaling a pivotal meeting aimed at fostering development cooperation between the two entities.
During their discussions, Mbasogo and Al-Marshad delved into potential avenues for collaboration in development endeavors, shedding light on Equatorial Guinea's pressing developmental needs. The meeting explored the feasibility of SFD's provision of funding to address these priorities, aligning with the fund's longstanding commitment to bolstering development initiatives in emerging economies.
Since its inception in 1975, the SFD has played a pivotal role in bolstering crucial sectors in developing nations through the financing of various development projects and programs. With a track record spanning 49 years, the SFD has successfully funded over 800 development initiatives across more than 100 developing countries globally, thereby contributing significantly to social advancement and fostering sustainable economic growth.
